The food and beverage industry has witnessed healthy growth over the past couple of years and with this trend there have been some significant shake-ups. The sector has evolved across all its component parts, from food preparation to packaging, restauration, home delivery, and homemade. Social media has become a powerful force that propels food trends to spread rapidly through our cultural consciousness. Whether it's those yawn-inducing people who only talk about their latest air-fryer inventions or the gorgeous gorgeous girlies of #SoupTok who proclaim their love for the velvety comfort health food (who doesn't?!).
On the other side of the coin, artificial intelligence (AI) has infiltrated the preparation side of F&B and is helping create efficiencies, make smarter business decisions and support a greener future. Whilst we don't have a crystal ball to see the future trends, ultimately all forecasts suggest that in 2024 consumers are looking for convenience, value for money, and -of course - taste like never before in relation to food and drink.
We've scowered the latest F&B research and trends reports from the likes of Mintel, Wholefoods and The Specialty Food Association to name a few, paired with our internal expert opinions from EHL's Practical Arts Professors, to compile a comprehensive and balanced list of the this year's top trends in the Food and Beverage Industry.
Food and Beverage industry background
Before we jump into the top trends in F&B let's make sure we're all on the same page.
Food and drink trends are currently being shaped by two core drivers, firstly technology - namely AI - and secondly, consumer demands, for which both have experienced a big evolution. The following sections delve into those in more detail before we get to the much-anticipated trends!
Technology in F&B
As technological advances play an ever-important role in the industry, the next big thing is getting into consumer’s homes. Companies have begun connecting the dots when it comes to consumer convenience, so the quest for dominating the online grocery shopping is on.
Approaching technology from a new perspective will also reap some greatly promising benefits in the future. Metis co-founder David Richey, who had helped set the quality and service standards which became the industry benchmark, says technology has been disappointing so far.
The principle use has been for better slicing and dicing of customer data for history and preferences - and for better targeting and analyzing populations for marketing purposes. But why haven’t we used AI more as a management resource?
He cites the possibility of using weather, finance and population data to forecast beef prices up to 24 months in advance or buy cattle futures to hedge the market. Social media analysis could be used along with demographic data to predict wine trends which could then result in contracts with local producers.
Going cashless. Restaurateurs are beginning to phase out cash in their operations. This saves them time by avoiding bank deposits and also has obvious operational benefits: fewer handling errors and incidents of theft; and instead, greater transparency and liquidity. Either way, the industry is heading towards a cashless future with simplified payments made easy through PIN-less card contact payments or ApplePay. We could be looking at future payments through electronic fingerprints, retina scans or even facial recognition.
Changing consumer mindset
Continual exploration of global flavors is ongoing, with an increasing interest in diverse tastes worldwide. According to Trendspotters, consumers are not only embracing new flavors but also seeking deeper cultural connections through food. Trendspotter V. Sheree Williams predicts a rise in traditional heritage foods crafted by small producers globally, highlighting recipes rich in both flavor and personal narratives. This trend reflects a growing awareness and appreciation for obscure regional ingredients and culinary traditions. The evolving landscape of restaurants across the U.S. is introducing consumers to lesser-known cuisines and specific dishes within them, broadening their willingness to explore new culinary experiences. This shift underscores the recognition that cuisines are diverse and multifaceted, as observed particularly in the popularity of Asian packaged products catering to a wide consumer base. Additionally, there's a forecasted surge in interest in African pantry items, as brands aim to familiarize Western tastes with African flavors and ingredients, as mentioned by June.
Consumers' pursuit of elevated convenience remains prevalent, as they seek ways to enhance the flavor and quality of their meals while embracing shortcuts. Trendspotter Bartelme predicts a growing appreciation for pre-made mixes, sauces, and starters, indicating a departure from previous hesitations about using such products. This convenience extends beyond home meal preparation, influencing on-the-go food and drink choices, especially for those with busy lifestyles, as noted by Williams.
Despite inflationary pressures impacting restaurant dining, there's a trend toward elevating everyday experiences at home. Trendspotter Jonathan Deutsch emphasizes the use of premium ingredients like high-end truffle salts, specialty oils, spice blends, and artisanal butters to transform simple meals into restaurant-quality indulgences. For instance, the enduring popularity of charcuterie boards is attributed to their visual appeal, versatility, cost-effectiveness, and compatibility with diverse dietary preferences, contributing to the rising demand for sophisticated food presentations at gatherings.
The environmental impact of food remains a significant concern for consumers, with a growing focus on sustainability, carbon footprint reduction, and food waste management. Deutsch highlights the shift from buzzwords to keywords like "regenerative," "upcycled," and "sustainably packaged" in consumers' efforts to make ethical food choices. There's an anticipated emphasis on regenerative agriculture as the industry seeks solutions to combat climate change. This reflects a broader trend within the food industry toward environmentally conscious practices.
The top food and beverage trends revealed
Here are the top food and beverage trends curated by EHL based on industry research that will continue to challenge, disrupt, and entice producers and consumers – bon appétit!
Drinks segment leading growth
Beverages are having their moment, just take a look at all the beverage trends that we can expect to quench our thirst and cocktails to enjoy in 2024. According to the State of the Specialty Food Industry research by SFA, beverage sales have consistently outpaced food sales in recent years, driven by innovation. In the upcoming year, there will be a surge in the demand for sophisticated single-serve beverages that are both fizzy and non-fizzy, as well as functional coffees, teas, and broths infused with ingredients that provide an extra boost of energy, focus, clarity, or relaxation. These beverages will have minimal to no added sugar, salt, or synthetic ingredients, and will showcase tropical flavors, as well as herbs and botanicals from around the world.
Plant-based foods